French Stocks Decline; JCDecaux, Theolia Retreat, Eurofins Shares Surge
France’s CAC 40 Index lost 51.16, or 1.4 percent, to 3,581.82, a second day of declines. The broader SBF 120 Index retreated 1.3 percent to 2,656.95.
The following stocks were among the most active in French equity-market trading today.
Eurofins Scientific SA (ERF FP) soared 14 percent to 37.99 euros after it reported revenue in the second quarter greater than its own forecast. The quality tester for wine and drugmakers added that earnings before interest, taxes and amortization doubled from the year-earlier period.
JC Decaux SA (DEC FP), the world’s second-biggest seller of outdoor advertising, fell 4.3 percent to 19.61 euros, its biggest drop in two weeks. Natixis reiterated its “reduce” recommendation on the shares and slashed its price estimate 17 percent to 13.50 euros. JC Decaux’s earnings will be curbed by increased competition, including from Stroer Out-of-Home Media AG which held its initial public offering in Germany today, Natixis analyst Thomas Jorion wrote in a report today.
Theolia SA (TEO FP) fell 2.6 percent to 1.12 euros, its fourth day of declines. The French wind-power producer that is raising cash to avert bankruptcy sold 60.5 million euros ($78 million) of shares.
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